LIC New Jeevan Nidhi Plan – New Jeevan Nidhi is a customary taking part conceded annuity plan of LIC Life coverage organization that works with reserve funds for normal pay after retirement. The arrangement gives both insurance and reserve funds highlights. New Jeevan Nidhi offers passing cover during the suspension time frame and gives annuity upon endurance to the vesting date. LIC’s New Jeevan Nidhi Plan is a customary, taking an interest Benefits Plan. Kindly note that Benefits Plans are likewise alluded to as Conceded Annuity Plans – it is named It offers a mix of security and reserve funds which can be utilized for your retirement days.
LIC, similar as before, have begun moving new items over the most recent couple of long periods of monetary year. This time it has sent off a conceded conventional benefits plan LIC New Jeevan Nidhi. In spite of the fact that, adjustments of annuity plan standards by IRDA have hindered numerous privately owned businesses to enter in this market, LIC has gone on with its pattern. The new item very well conforms to these standards as is thought to be more savvy now. Yet, conventional protection plans have been in the information for their lower returns thus surveying LIC New Jeevan Nidhi prior to pursuing a choice will be sufficiently shrewd.
LIC New Jeevan Nidhi Plan 2024
The New Jeevan Nidhi Plan from the Extra security Organization of India (LIC) is a ‘with benefit’ benefits plan. This strategy gives a gamble cover against death during the arrangement’s postponement time frame and furthermore offers the policyholder annuity after the date of vesting. Policyholders can likewise buy LIC’s Coincidental Passing and Incapacity Advantage Rider to improve the inclusion presented by this approach. Policyholders can guarantee tax breaks under Area 80C and Segment 10(10D) of the Annual Duty Act, 1961. LIC New Jeevan Nidhi mini-computer provides you with a fair gauge of the acquiescence esteem, reward, Credit, settled up and projected development esteem based on the complete premium paid. If it’s not too much trouble, enter right aggregate guaranteed, superior, premium paying term, strategy term, last premium paid date and your own subtleties. This information will be utilized to ascertain and decide the rough qualities.
If you are looking to invest in the future, LIC New Jeevan Nidhi Plan 2024 is the right plan for you. This retirement plan offers significant benefits, including tax breaks and guaranteed returns. You can start saving now and make sure that you have a secure retirement income. Learn more about LIC New Jeevan Nidhi Plan 2024 and take the first step to securing your future today!
Details LIC New Jeevan Nidhi Plan 2024
| Name Of Article | LIC New Jeevan Nidhi Plan 2024 |
| LIC New Jeevan Nidhi Plan 2024 | Click Here |
| Category | Insurance |
| Official Website | Click Also |
Key Features of LIC Jeevan Nidhi
LIC Jeevan Nidhi is a life insurance product that provides comprehensive protection for your family in case of an unexpected death. With LIC Jeevan Nidhi, you can be sure that your loved ones will be taken care of financially. Here are some of the key features of LIC Jeevan Nidhi that make it such an excellent life insurance option.
- Qualified for rewards.
- This annuity plan accompanies the choice of Normal and Single Premium Installment.
- You will get Ensured Augmentations each approach year for the initial five years.
- Choice to choose extra riders of Unplanned Demise and Inability Rider.
- Post sixth strategy year, you will get Straightforward Reversionary Reward and Last Extra Reward
Benefits of LIC Jeevan Nidhi
LIC Jeevan Nidhi has come as a boon for the people of the country. This life-saving scheme has been introduced with an aim to provide safety and security to the citizens at a nominal cost. The LIC Jeevan Nidhi scheme is an insurance policy that covers all your medical expenses up to Rs. 5 lakhs during a lifetime. In addition, it provides you with accidental death cover of Rs. 2 lakhs. This policy is available for both individuals and families.
- The policyholder is qualified for Ensured Increases at 5% of Aggregate Guaranteed for the initial five approach years.
- The vested total payable is a mix of Total Guaranteed + Gathered Ensured Options + Straightforward Reversionary Reward + Last Extra Reward.
- In the event of death during the initial five years of the strategy, the total guaranteed + gathered ensured augmentations are payable in a single amount or annuity or fractional single amounts or halfway annuity.
- In the event of death post five years, the Total Guaranteed + Gathered Ensured Options + Straightforward Reversionary Reward + Last Extra Reward are payable in a singular amount or annuity or halfway singular amounts or fractional annuity.
- The passing advantage is at least 105% of all charges paid.
- You are qualified for tax cuts for charges paid according to Sec 80CCC and Sec 10(10D) of the Annual Assessment 1961.
- You are qualified for a refund in the event that the premium paid is for a high total guaranteed – ₹3,00,000 or above.
- The strategy accompanies effortlessness time of 15 days for the month to month method of premium installment and 30 days for different methods of premium installment.
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How does the LIC New Jeevan Nidhi Plan Work?
LIC New Jeevan Nidhi is a unique pension plan that offers a higher retirement income for employees. The plan offers employees a choice of how to invest their money, and it has a variety of features that make it an attractive option. To learn more about LIC New Jeevan Nidhi, read on!
- LIC New Jeevan Nidhi Plan is a conceded benefits plan. Under this arrangement, policyholders have the choice of paying customary or single expenses for the ideal approach term.
- On development of the arrangement for example on the vesting date, a sum equivalent to the Essential Aggregate Guaranteed alongside gathered Ensured Options, vested Straightforward Reversionary rewards and Last Extra reward, assuming that any are paid. The sum got can be driven to the degree permitted. The equilibrium sum after substitution or the whole sum accessible, by and large, will be used to buy prompt annuity at the overarching annuity rates. The whole returns can likewise be used to buy a solitary premium conceded benefits item gave the policyholder fulfills the qualification measures for buying single premium conceded annuity item.
- In the event of death during the initial five arrangement years, Fundamental Aggregate Guaranteed alongside accumulated Ensured Expansion will be paid as single amount or as an annuity or part of the way in singular amount and equilibrium as an annuity to the candidate.
- In the event of death after initial five arrangement years, Fundamental Aggregate Guaranteed alongside accumulated Ensured Option, Straightforward Reversionary and Last Extra Reward, if any, will be paid as singular amount or as an annuity or halfway in single amount and equilibrium as an annuity to the candidate.
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Eligibility Criteria for LIC New Jeevan Nidhi
If you’re looking to avail the LIC New Jeevan Nidhi, there are a few eligibility criteria you need to meet. In this post, we’ll discuss each of these criteria in detail and give you a rundown of what you need to do to qualify. We’ll also provide a guide on how to apply for LIC New Jeevan Nidhi and answer any questions that you may have. Are you ready to get your life back? Let’s get started!
| CRITERIA | MINIMUM | MAXIMUM |
|---|---|---|
| Entry Age | 20 years | 58 years – Regular Pay, 60 years – Single Pay |
| Vesting Age | 55 years | 65 years |
| Policy Term/Deferment | 5 years to 35 years under single premium, 7 to 35 years | |
| Period | Under Regular Premium | |
| Premium Payment Term | Single pay or equal to the policy term | |
Sample Premium Rates
Referenced underneath are test premium rates elite of administration charge per ₹1,000/ – S.A.
| – | 10 | 20 | 30 |
| 25 | – | – | 435.80 |
| 35 | – | 612.00 | 456.15 |
| – | 10 | 20 | 30 |
| 25 | – | – | 32.75 |
| 35 | – | 53.60 | 34.80 |
| 45 | 115.25 | 57.15 | – |
Allow us to take an illustration of a male for a Total Guaranteed of ₹2,00,000
| – | 10 | 20 | 30 |
| 25 | – | – | ₹87,160 |
| 35 | – | ₹1,22,400 | ₹91, 230 |
| 45 | ₹1,70,510 | ₹1,26,560 | – |
| – | 10 | 20 | 30 |
| 25 | – | – | ₹6,550 |
| 35 | – | ₹10,720 | ₹6,960 |
| 45 | ₹23,050 | ₹11,430 | – |
LIC’s New Jeevan Nidhi Specifications
LIC has just released new Jeevan Nidhi specifications, which will help promote affordable housing in India. Under the new rules, developers will need to build more affordable housing options and make them available to a wider range of buyers. This will help tackle the country’s chronic shortage of affordable homes, and make it easier for people to find a place to call home.
Surrender Value
The approach can be given up whenever during the delay time frame. The Dependable Acquiescence Worth will be as under:
Single Premium
- Assuming it is inside three approach a very long time from date of initiation of strategy then it will be 70% of the single premium barring charges and additional premium, if any.
- From that point it will be 90% of the single premium barring assessments and additional premium, if any.
Regular Premium
- On the off chance that the delay period is under 10 years, the arrangement can be given up gave the expenses have been paid for somewhere around 2 back to back years.
- On the off chance that the delay period is beyond what 10 years, the arrangement can be given up gave the expenses have been paid for somewhere around 3 back to back years.
- The Reliable Acquiescence Worth will be a level of complete expenses covered barring charges, extra expenses, if any and rider premium, whenever selected. This rate will rely upon the suspension time frame and the strategy year in which the approach is given up
- Furthermore, the acquiescence worth of any gathered Ensured Increments and vested basic reversionary rewards, if any, will likewise be payable. This is equivalent to the amount of accumulated Ensured Increases and vested basic reversionary rewards, if any, duplicated by the Acquiescence Worth component relevant to gathered Ensured Augmentations and vested rewards.
- You are not qualified for take a credit against this strategy.
Exclusions under LIC New Jeevan Nidhi
If you are an individual or a company that is looking to avail the benefits of the LIC New Jeevan Nidhi, you’ll need to exclude some of your assets from coverage. The LIC New Jeevan Nidhi is a government-sponsored insurance scheme that provides coverage for accident injuries and health problems that occur during the course of employment.
Suicide Under Single Premium Policy Plan
Under single premium choices, the strategy will be void assuming the Life Guaranteed (whether rational or crazy) ends it all whenever in something like a year from the date of beginning of hazard and LIC won’t engage any case under this arrangement but to the degree of 90% of the single premium settled barring charges, additional premium and rider premium, if any.
Suicide Under Regular Premium Policy Plan
Assuming the Life Guaranteed (whether rational or crazy) ends it all in something like a year from date of initiation of hazard or recovery, a sum which is higher of 80% of the charges paid till the date of death (barring any expenses, additional premium and rider charges, if any) or the acquiescence esteem, gave the strategy is in force, will be payable.
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